Following years of false starts, failed contracts, and one huge price chop ($3.95 million!) a possible shell-corporation and a month of secrecy later! The Tenderloin's neglected Hibernia Bank has found a benefactor in San Francisco's Dolmen Property Group. Yes, it was Dolmen -- cum 1 Jones LLC? -- who bought the 100+ year old squatted and scarred baroque-inspired piece -- and who still isn't revealing any plans for the building's future. "There's oodles of potential coos Dolmen Director Seamus Naughten.
Curiouser and curiouser: Dolmen's small crop of holdings are limited to residential condos and multi-unit dwellings in SoMA, Potrero and the Inner Mission, with the exception of the 'Loin's Channel Seven building. What could Naughten have up his sleeve for the Hibernia? Let's just hope he doesn't tear out those oodles of moldings while performing the $10 mil-plus retrofit needed to make the place inhabitable. (Though a good scrub might be a nice touch.)
· Hibernia mystery deal solved, buyer revealed [SF Business Times]
· Rumormongering UPDATE: Hibernia Bank Actually Sold [Curbed SF]
· Crack for Culture: Museum Eyes Hibernia Bank [Curbed SF]
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